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FM to meet select bankers in Mumbai today

PTI  New Delhi, April 07, 2013
First Published: 23:54 IST(7/4/2013) | Last Updated: 23:56 IST(7/4/2013)

Finance minister P Chidambaram is scheduled to meet select bankers in Mumbai on Monday to impress upon them the need to increase lending to productive sectors including infrastructure projects to boost economic growth.


He is expected to meet officials from select banks including State Bank of India (SBI) and Bank of Baroda, among others, sources said on Sunday.

Besides, the finance ministers is also likely to meet investors and impress upon them that India is a safe and attractive destination for investment.

Chidambaram is likely to ask banks to increase lending to productive sectors to prop up growth and will also try to address the concerns of the banks.

Banks' deteriorating asset quality is also expected to come up for discussions at the meeting.

India's GDP growth hit a decade low of 4.5% in the third quarter of 2012-13. Gross non-performing assets or bad loans  of public sector banks have risen from Rs. 71,080 crore as on March 2011 to Rs. 1.55 lakh crore as on December 2012.

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